Sequoia Financial Advisors LLC Sells 322 Shares of Roku, Inc. (NASDAQ:ROKU)

Sequoia Financial Advisors LLC trimmed its position in shares of Roku, Inc. (NASDAQ:ROKU) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,619 shares of the company’s stock after selling 322 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Roku were worth $255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its position in Roku by 75.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 229,769 shares of the company’s stock valued at $16,185,000 after acquiring an additional 98,784 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Roku in the 1st quarter valued at $511,000. Asset Management One Co. Ltd. lifted its position in Roku by 12.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 50,280 shares of the company’s stock valued at $3,542,000 after acquiring an additional 5,403 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Roku by 45.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,946 shares of the company’s stock valued at $278,000 after acquiring an additional 1,240 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 629 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the transaction, the chief accounting officer owned 8,555 shares in the company, valued at approximately $624,343.90. This represents a 6.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer owned 6,243 shares in the company, valued at approximately $468,225. This trade represents a 80.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,020 shares of company stock worth $4,979,594 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ROKU. Citigroup reaffirmed a “neutral” rating and issued a $84.00 price objective (up from $68.00) on shares of Roku in a research report on Wednesday, June 18th. Wells Fargo & Company cut their price objective on shares of Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Loop Capital upgraded shares of Roku from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $100.00 in a research note on Tuesday, June 17th. JMP Securities reiterated a “market outperform” rating and issued a $95.00 price target on shares of Roku in a research note on Tuesday, June 17th. Finally, Compass Point started coverage on shares of Roku in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.37.

Roku Stock Performance

Shares of ROKU stock opened at $88.12 on Friday. The firm’s 50-day moving average is $74.59 and its 200-day moving average is $75.33. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of -120.72 and a beta of 2.12. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. Roku’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) EPS. Sell-side analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Roku Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.